Traders Laboratory - View Single Post - 10 Pips a Day to Wealth - guaranteed
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Old 05-17-2007, 11:19 AM
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Re: 10 Pips a Day to Wealth - guaranteed

Great topic...

I've gone back and forth over the years of taking 2 ES pts and walking away vs. taking everything on the day and my conclusion was that you need to take all your setups as some days are +10 pts and some are +1. This is what I found for my trading. Some days are a gift from the trading gods and other days they are punishing me is what it feels like. On the 'gift' days, I have to take the gifts all day, every day.

For example, this morning thus far has been blah on the ES. Just not a ton of movement right now so my short at 8:10am EST hit one profit target and the remaining contracts were trailed out. Nothing exciting. Meanwhile Wed was a day that just kept on giving. And giving. Now if I had stopped at +2 on Wed, I would have literally left a few thousand dollars on the table. And today I am waiting patiently to try to make a few bucks. See the difference? Stopping at 2 just capped my upside and made days like today much more important, which is completely backwards in my opinion. I don't need chop days to become important and weigh heavy in my outcomes. I need days like Wed to be the most important!

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